Repeal the Federal Reserve Act of 1913! Reinstate Executive Order 11110!
The origin of the Federal Reserve came about on November 22, 1910 at the Jekyll Island Hunt Club located in Jekyll Island, Georgia. Thus also leading to the February 3, 1913 16th amendment to the U.S. Constitution ratification and later that year the United States Revenue Act of 1913 imposed a personal income tax on the American people and unfortunately we have been taxed ever since. Without a personal income tax, it is hard to have a central bank. It takes a lot of money to finance all of the government debt that a central banking system creates. Therefore it is no accident that the 16th amendment was ratified in 1913 and the Federal Reserve System was also created in 1913. They have a symbiotic relationship and they are designed to work together. In fact the income tax money that is collected from the American people is given directly to the Federal Reserve to pay for the interest on the government’s debt.
In the 2012 fiscal year, the I.R.S. collected $2.52 trillion, money taken from the American people and given to the private banking families of the Federal Reserve, am I the only one who is outraged by this. The banking industries practices of greed and enslavement not only happens in the United States but the entire world with banks such as the IMF [International Monetary Fund] and the World Bank, also connected to some of the same names of the owners of the Federal Reserve. These banking systems have been allowed free reign over our lives for too long, it is time the Federal Reserve institution of greed and tyranny be eradicated. There are others who recognized the dangers of a centralized bank; Andrew Jackson, James Madison, Abraham Lincoln and Thomas Edison – who stated, “The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered. ”
On June 4, 1963 John F. Kennedy also noticed the need to lessen the power of the Federal Reserve banking system. Former President Kennedy was on his way to abolishing the FED with Executive Order 11110, which returned to the U.S. government the power to issue currency, without going through the Federal Reserve. The order gave the Treasury the power “to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury. “ This meant that for every ounce of silver in the U.S. Treasury’s vault, the government could introduce new money into circulation.
Executive Order 11110 brought nearly $4.3 billion in U.S. notes into circulation. If enough of the silver certificates were to come into circulation they would have eliminated the demand for Federal Reserve Notes. This is because the silver certificates are backed by silver and the Federal Reserve notes are not backed by anything. Executive Order 11110 could have prevented the national debt from reaching its current level, because it would have given the government the ability to repay its debt without going to the Federal Reserve and being charged the new money. Executive Order 11110 gave the U.S. the ability to create its own money backed by silver. Five months after Former President Kennedy’s assassination, no more silver certificates were issued. Executive Order 11110 has never been repealed, amended of superseded by any subsequent executive order, which means it is still a valid order.
The Federal Reserve has failed in its claim to provide a stable monetary and financial system: the dollar has lost over 96% of its value, the federal government has accumulated trillions of dollars of debt which cannot be payed with re-borrowing from the Federal Reserve, the American people are taxed to pay the national debt to the FED on behalf of the government which continues the cycle of perpetual debt, the American economy has gone through numerous recessions and a depression, the economy is on the verge of a total financial collapse, the American people have suffered at the hands of the banksters with the onset of record bankruptcies and foreclosures.
According to Article I Section 8 of the U.S. Constitution, The U.S. Congress has been given the responsibility to “coin money, regulate the Value thereof, and of foreign coin, and fix the Standard of Weights and Measures.” In other words this section of the Constitution renders the Federal Reserve Act as unlawful and unconstitutional. The FED is allowed to loan money they do not have essentially creating money from nothing, in banking terms this is called the Fractional Reserve System.
We must demand of our officials in the U.S. Congress and President Obama to do what we as Americans have put them in office to do, which is to act in the best interest of the people. Let’s tell the U.S. Congress to repeal the Federal Reserve Act of 1913 and President Obama to reinstate Executive Order 11110.